MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch April 20
VEGOILS-Market Factors to Watch April 20
20/04/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit an 8-month low on Wednesday, in a sixth consecutive session of declines, tracking weaker related edible oils and on expectations of rising production and weaker exports, traders said.
* U.S. soybean futures firmed on Wednesday, posting a mild recovery from two days of losses after holding technical support above the one-year lows hit last week.
* Oil fell to a two-week low on Wednesday, after a surprising build in U.S. gasoline inventories and a rise in domestic crude output that is partially offsetting cutbacks by other countries trying to reduce a global glut.
MARKET NEWS
* Oil prices dropped more than 3 percent on Wednesday following a surprise increase in gasoline inventories, and declines in energy shares weighed on U.S. stocks.
RELATED
> OPEC, non-OPEC to meet on same day as group's May gathering-sources
> China Development Bank may finance Fosun's Polyus deal - sources
> Paraguayan corn shipment headed for U.S. port -source
> Canada's resilient dairy sector girds for Trump fight
> Australian govt "encouraged" by steps to avert gas crunch, but says more to be
done
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
> Cargo surveyor SGS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
Palm, soy and crude oil prices at 0035 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5126 +4.00 5096 5146 195302
CHINA SOYOIL SEP7 5812 -2.00 5742 5832 306870
CBOT SOY OIL MAY7 31.63 +0.70 31.53 31.68 541
INDIA PALM OIL APR7 509.20 +0.70 507.00 511.9 1166
INDIA SOYOIL APR7 629 -0.25 628.15 629.25 2340
NYMEX CRUDE MAY7 50.69 +0.25 50.62 50.73 102
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures hit an 8-month low on Wednesday, in a sixth consecutive session of declines, tracking weaker related edible oils and on expectations of rising production and weaker exports, traders said.
* U.S. soybean futures firmed on Wednesday, posting a mild recovery from two days of losses after holding technical support above the one-year lows hit last week.
* Oil fell to a two-week low on Wednesday, after a surprising build in U.S. gasoline inventories and a rise in domestic crude output that is partially offsetting cutbacks by other countries trying to reduce a global glut.
MARKET NEWS
* Oil prices dropped more than 3 percent on Wednesday following a surprise increase in gasoline inventories, and declines in energy shares weighed on U.S. stocks.
RELATED
> OPEC, non-OPEC to meet on same day as group's May gathering-sources
> China Development Bank may finance Fosun's Polyus deal - sources
> Paraguayan corn shipment headed for U.S. port -source
> Canada's resilient dairy sector girds for Trump fight
> Australian govt "encouraged" by steps to avert gas crunch, but says more to be
done
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
> Cargo surveyor SGS releases Malaysia’s Apr 1-20 palm oil export data on Apr 20.
Palm, soy and crude oil prices at 0035 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY7 0 +0.00 0 0 0
MY PALM OIL JUN7 0 +0.00 0 0 0
MY PALM OIL JUL7 0 +0.00 0 0 0
CHINA PALM OLEIN SEP7 5126 +4.00 5096 5146 195302
CHINA SOYOIL SEP7 5812 -2.00 5742 5832 306870
CBOT SOY OIL MAY7 31.63 +0.70 31.53 31.68 541
INDIA PALM OIL APR7 509.20 +0.70 507.00 511.9 1166
INDIA SOYOIL APR7 629 -0.25 628.15 629.25 2340
NYMEX CRUDE MAY7 50.69 +0.25 50.62 50.73 102
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel